May 1, 2018 / 11:06 PM / a year ago

U.S. extends deadline for divestiture of sanctions targets Rusal, En+

WASHINGTON, May 1 (Reuters) - The U.S. Treasury on Tuesday gave investors an additional month to divest or transfer their holdings in sanctions targets United Company Rusal Plc , En+ Group PLc and GAZ Group.

Washington last month imposed sanctions on billionaire Oleg Deripaska and several companies in which he is a large shareholder, including Rusal, in response to what the United States called Russia’s “malign activities.” Deripaska’s En+ Group holds his 48 percent stake in Rusal, while his Russian Machines conglomerate owns 61 percent of vehicle maker GAZ Group.

The Treasury has extended the deadline to divest financial holdings in the companies to June 6 from May 7.

Reporting by Eric Beech Editing by Eric Walsh

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